Only thing I can think of too was the high debts, low payments thing. I don't know how much debt you carried..but it obviously was enough for other lenders to look at you as a bad investment and probably not going to ever pay it off (I always say NEVER NEVER NEVER pay the minimum unless you absolutely have no other choice. Even a dollar or two more shows to lenders that you are trying to pay off your bill faster.)
You were on some kind of thin ice I guess because no lender would want to do that if you're obviously giving them money through interest like that.
You must have been that bad of an investment I guess that it was worth it to close all your credit accounts. Sorry that you figured out the hard way on that.
I just settled a 5k debt (paid 3700) and transunion said in writing it'll be off in 2014. They backdated the settlement to early 2010, probably because the settlement company tried to act as if they couldn't send the letter acknowledging I fulfilled my end to 'em
All my 1500 dollar or less accounts now have 400 or less on 'em. No settlement was needed for them.
So now I just have a 5k credit card (paid a lot of college stuff w/that one!) which can be paid off probably in 2 years.
My plan is to have 0 balances by the end of 2013...and that's within clear sight. Some folks got it MUCH worse than me.
I walked my friend through my mistakes of having high debts and he has nearly perfect credit thanks to me. That's life...
"Capitalization is the difference between "I had to help my uncle Jack off a horse.." and "I had to help my uncle jack off a horse..""
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